The long winning streak for the WorkBoat Composite Index finally came to an end in July. For the first time since September 2006, the Index lost ground. The loss, however, was small, with the Index dropping only nine points, or 0.53 percent. In July, the broader markets were hit much harder, with the S&P 500 losing over 3 percent and the Dow 1.5 percent.
During its nine-month winning streak, the Index rose almost 500 points – a whopping 40 percent. Even with the slight setback in July, the Index is up 27 percent in 2007, topping all major market indexes.
For the month, losers topped winners by a ratio of 2-1. Leading gainers included vessel operators Hornbeck Offshore Services and Kirby Corp.
Top percentage losers included Ambassadors International , American Commercial Lines and Trico Marine Services .
– David Krapf